Quadplexes With Gated
For Sale
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517 Palomas Dr SE, Albuquerque, NM 87108
Two buildings offer one- and two-bedroom units with private backyard space and off-street parking.
Property Size3,040 SF
Price / SF$126.64
Days on Market157
Property Features for 517 Palomas Dr SE
General Information
Standard status
Active
Size
3,040 SF
Class
C
Property subtype
Multifamily
Zoning
R-ML
Occupancy
87%
Investment Type
Stabilized
Net Operating Income
$24,465
Additional Details
Public Transit
Yes
Amenities
private backyard space
gated off-street parking
Building Details
Buildings
1
Stories
1
Units
4
Listing Agency:
eXp Realty, LLC Albuquerque
(505) 639-1266
Listed By:
Coralee Quintana · License #NM 48091
Source:
Crexi
Added: Mar 29
Changed: Aug 31
Last Checked: Aug 31 at 3:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC Albuquerque
Investment Insights
Based on property information with market context.
This multifamily offering comprises two quadplex buildings, with each building containing two 2-bedroom units and two 1-bedroom units. Private backyard space and gated off-street parking serve the residences, while the properties carry R-ML zoning. Combined occupancy is reported at 87.5% for both buildings.
The properties are in Albuquerque, NM 87108, with access to Kirtland AFB and ABQ Transit. The surrounding area includes the Downs Casino, Expo New Mexico, restaurants, and other amenities, with traffic activity identified along Zuni Rd. and San Mateo Blvd. Each property has a lot size of 0.16 acres.
The properties are in Albuquerque, NM 87108, with access to Kirtland AFB and ABQ Transit. The surrounding area includes the Downs Casino, Expo New Mexico, restaurants, and other amenities, with traffic activity identified along Zuni Rd. and San Mateo Blvd. Each property has a lot size of 0.16 acres.
Key Highlights
- Two quadplex buildings with two 2‑bedroom and two 1‑bedroom units each
- 87.5% occupancy for both properties
- 0.16‑acre lot size for each property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,751
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,020
$555.0K
Cap Rate 7%
$396,443
$396.4K
Cap Rate 9%
$308,344
$308.3K
Market Conditions
NOI Build-Up for 3,040 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$39.6K $13.04/SF
− OpEx
−$11.9K −$3.91/SF
NOI
$27.8K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,020
Cap Rate 7%
$396,443
Cap Rate 9%
$308,344
Alternative Uses
Best Use
Multifamily LT 5
$396.4K
$346.9K – $462.5K
NOI $27,751 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$366.8K
$321.0K – $428.0K
NOI $25,678 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$735.4K
$643.5K – $858.0K
NOI $51,481 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two buildings offer one- and two-bedroom units with private backyard space and off-street parking.
Where is this quadplex located?
The property is located at 517 Palomas Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two quadplex buildings with two 2‑bedroom and two 1‑bedroom units each; 87.5% occupancy for both properties; 0.16‑acre lot size for each property
